JPMorgan Chase & Co. (NYSE:JPM) Shares Up 2.9% – Here’s What Happened

JPMorgan Chase & Co. (NYSE:JPM)’s share price shot up 2.9% during mid-day trading on Friday . The stock traded as high as $231.57 and last traded at $231.73. 3,055,735 shares changed hands during trading, a decline of 65% from the average session volume of 8,845,787 shares. The stock had previously closed at $225.19.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on JPM. UBS Group raised their target price on JPMorgan Chase & Co. from $276.00 to $287.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. Baird R W upgraded JPMorgan Chase & Co. from a “strong sell” rating to a “hold” rating in a research note on Friday, March 7th. Oppenheimer downgraded JPMorgan Chase & Co. from an “outperform” rating to a “market perform” rating in a research note on Wednesday, November 20th. Piper Sandler increased their price target on JPMorgan Chase & Co. from $240.00 to $275.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 3rd. Finally, Truist Financial increased their price target on JPMorgan Chase & Co. from $260.00 to $268.00 and gave the stock a “hold” rating in a research note on Thursday, January 16th. Ten equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $252.89.

JPMorgan Chase & Co. Stock Up 3.4 %

The company has a current ratio of 0.88, a quick ratio of 0.89 and a debt-to-equity ratio of 1.24. The stock has a 50 day simple moving average of $258.29 and a 200 day simple moving average of $238.83. The firm has a market capitalization of $651.31 billion, a PE ratio of 11.80, a PEG ratio of 2.83 and a beta of 1.10.

JPMorgan Chase & Co. (NYSE:JPM) last posted its earnings results on Wednesday, January 15th. The financial services provider reported $4.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.03 by $0.78. JPMorgan Chase & Co. had a return on equity of 16.99% and a net margin of 20.96%. The firm had revenue of $42.77 billion for the quarter, compared to analysts’ expectations of $41.90 billion. During the same period in the previous year, the firm earned $3.04 earnings per share. The business’s revenue was up 10.9% compared to the same quarter last year. As a group, sell-side analysts forecast that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

Insider Activity

In related news, insider Robin Leopold sold 1,250 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $270.09, for a total transaction of $337,612.50. Following the sale, the insider now directly owns 50,377 shares in the company, valued at $13,606,323.93. The trade was a 2.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Jennifer Piepszak sold 4,273 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $269.85, for a total value of $1,153,069.05. Following the sale, the chief operating officer now owns 54,469 shares in the company, valued at $14,698,459.65. This represents a 7.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 46,326 shares of company stock valued at $12,448,445. Company insiders own 0.79% of the company’s stock.

Institutional Investors Weigh In On JPMorgan Chase & Co.

Hedge funds have recently made changes to their positions in the company. Mizuho Securities Co. Ltd. bought a new stake in shares of JPMorgan Chase & Co. during the third quarter valued at approximately $25,000. Redwood Park Advisors LLC bought a new stake in JPMorgan Chase & Co. in the fourth quarter worth $29,000. Sellwood Investment Partners LLC bought a new stake in JPMorgan Chase & Co. in the fourth quarter worth $34,000. Investment Counsel Co. of Nevada bought a new stake in JPMorgan Chase & Co. in the fourth quarter worth $37,000. Finally, Prudent Man Investment Management Inc. bought a new stake in JPMorgan Chase & Co. in the fourth quarter worth $43,000. 71.55% of the stock is currently owned by institutional investors.

About JPMorgan Chase & Co.

JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. The firm offers a range of investment banking products and services in all capital markets, including advising on corporate strategy and structure, capital raising in equity and debt markets, risk management, market making in cash securities and derivative instruments, and brokerage and research.